CHICAGO, April 14, 2021 /PRNewswire/ — Numerator, a data and technology company serving the market research industry, today announced a multi-year investment unpinning significant enhancements in its omnichannel consumer data. The focus of this investment has been on new data capture, large scale transcription and a more flexible data architecture.
In 2014, Numerator introduced the use of first-person, permissioned, mobile device data capture in a consumer insights panel. The significant step-up in investment announced today allowed Numerator to ready a new era of consumer panel data-at-scale, unlock new use cases, and solve challenges that persist in the market research industry.
«Market research has been surprisingly slow to evolve and many of the tools in use today were designed decades ago with only minor adaptations to address a radically changing marketplace,» said Eric Belcher, CEO, Numerator. «Multimillion dollar brand and marketing programs are being created and evaluated using incomplete, out-of-date data. We recognized that the industry was primed for new leadership and made the step-up in investment to accelerate next generation data capture and product design. We’re releasing major new products over the year, with the first coming later this month.»
Already the leading omnichannel consumer insights panel in the U.S., the step-change in scale redefines existing industry paradigms including:
- Reducing data lag to introduce a 72-hour purchase-to-publish standard. New technology and platform capabilities at Numerator further shorten the time between consumer purchasing behavior and its availability in published data. This extends the application of Numerator’s Early-Read data (launched in 2020) into more products.
- Reflecting the full omnichannel versus participating retailers. Already the most complete omnichannel data available, Numerator has now launched detailed data capture for emerging consumer buying (such as delivery services). This is particularly important for market share as the industry relies heavily on «participating retailers» in which many retailers and entire channels, notably eCommerce, are not included.
- Providing a consumer-based versus retailer-centric view that aligns marketing and media to market share metrics. Due to scale never previously available, the new data sets enable omnichannel market share measurement for the first time. It also unlocks market share data based on people who buy products rather than by stores that sell them. This allows the measurement of marketing program success (changes in market share) to align to the way programs are designed (target audiences).
- Introducing innovation through proprietary data versus leased / rented data with restricted use. All new Numerator data sets being released are proprietary, enabling the flexibility to anticipate a rapidly changing market. This applies to both market share and consumer behavior data. Leased and rented data comes with restrictions that limit innovation opportunities from data capture techniques and new data capture through product use cases.
New Numerator data sets that enable next generation products and enhance the richness of existing offerings include:
- 1+ Million household measurement panel: The massive scale of this panel unlocks completely new use cases for panel data. The initial product built off this new dataset will enable omnichannel share measurement for the first time. It also powers demographic-based market share and opportunity identification for the first time, all done in an easy, configurable interface. These capabilities will launch later this month.
- 200,000+ household insights panel: Already offering a 100,000 static insights panel, Numerator is expanding to a 200,000+ person fully transcribed panel with beta usage of the expanding panel beginning mid-summer. The final size of the panel will be determined through data science and may exceed 200,000.
- New retailer inclusion and data expansion: Earlier this year, Numerator began permission-based collection of detailed data from delivery services and expanded collection of loyalty card data. This data is already flowing and will reach scale by year-end. Additional retailers will be added by mid-summer.
All new data sets are built using Numerator’s proven mobile-first data collection strategy.
Numerator is a data and tech company bringing speed and scale to the market research space. Headquartered in Chicago, IL, Numerator has more than 2,000 employees worldwide. The company blends proprietary data with advanced technology to create unique insights for the market research industry that has been slow to change. The majority of Fortune 100 companies are Numerator clients.
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